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Agro Industrial Paramonga Q3 profit climbs 27.9% YOY

Agro Industrial Paramonga S.A.A. said its normalized net income for the third quarter amounted to 14 Peruvian céntimos per share, a gain of 20.0% from 12 céntimos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.7 million soles, a gain of 27.9% from 3.6 million soles in the prior-year period.

The normalized profit margin climbed to 7.8% from 4.7% in the year-earlier period.

Total revenue decreased 23.7% on an annual basis to 59.6 million soles from 78.1 million soles, and total operating expenses declined 24.6% on an annual basis to 47.1 million soles from 62.4 million soles.

Reported net income grew 41.6% year over year to 5.7 million soles, or 17 céntimos per share, from 4.1 million soles, or 13 céntimos per share.

As of Nov. 14, US$1 was equivalent to 3.42 soles.